Technical analysis by ATF_Trades_FX about Symbol PAXG: Sell recommendation (2/10/2025)

Disclaimer: This is not a trading advice but a personal analysis.Greetings! what do you think about this analysis.Current Price Now: 2905Gold is over bought and after hitting All Time High ''2912'' a retracement is necessary for stability of this market. Now market first target would be to test the supporting area of 2882 and a bearish breakout of this area would create a space for market to test the area of 2845. There are multiple factors responsible for rise in gold prices: Due to Donald Trump's Tariff Policies and China and Central Banks continuous purchasing of gold, gold prices has seen a surge getting. Moreover, due to geopolitical tensions Gold has gained value as a safe reserve. These factors are responsible for the high prices of Gold.Even though fundamental factors are in favor of gold but currently market is overbought and has not tested the supporting area. For the stability of the market and confidence of consumers market has to drop for while.Support Areas: 2882, 2845Resistances: 2912, 2935Demand Zone: 2845Like, comment and support for more updates.Thanks for support